IndiGo’s December quarter profit zooms 111% to Rs 2,998 crore | India Business News – Times of India

by The Technical Blogs


NEW DELHI: Budget carrier IndiGo has reported a profit of Rs 2,998.1 crore in the Dec quarter, up 111% from Rs 1,422.6 crore in Q3 of last fiscal. This is only marginally lower than the highest ever quarterly profit for an Indian carrier at Rs 3,089.2 crore reported by IndiGo in June 2023 quarter.
With five consecutive profitable quarters, the airline has recovered from Covid time losses and become net worth positive again, said IndiGo CEO Pieter Elbers.IndiGo’s share price closed up 1.9% at Rs 3,127 on the BSE on Friday. “The year 2023 was marked by numerous milestones. We served 10 crore plus passengers in a calendar year and joined the select club of global carriers operating at this scale. We started operating 2,000 plus daily flights to 118 destinations,” said Elbers.
In the Oct-Dec, 2023, period, the airline’s total income crossed Rs 20,000 crore in a first for any Indian carrier’s quarterly numbers. Its revenue from operations increased by 30.3% to Rs 19,452.1 crore from Rs 14,933 crore in Q3 FY23.
The airline has about 75 of its Airbus A320 planes grounded due to engine issues. For the Dec quarter, compared to the same period last year, IndiGo says its capacity increased by 26.8%, and passengers increased by 23.4% to 27 lakh (highest ever for a quarter).


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